BlackRock expanding in private credit, buys HPS Investment Partners for $12 billion
Publishing timestamp: 2024-12-03 11:51:34
Summary
BlackRock to acquire HPS Investment Partners for $12 billion in stock, creating an integrated private credit franchise with about $220 billion in assets. Deal expected to close in mid-2025 during a boom for private credit space. Transaction will raise BlackRock's private market AUM and management fees significantly.
Sentiment: POSITIVE
Keywords: stock markets, business news, wall street, blackrock inc, blue owl capital inc, markets, blue owl capital corporation iii, breaking news: markets, investment strategy, ares management corp,